After the transfer, the charity is required to submit an accounting of all income and expenditures associated with the raffle. If the transfer is subject to a condition, the charity must submit with its disclosure statement a bona fide independent appraisal of the property.Īdditionally, the regulations specify the information that must be included on the raffle ticket and the time period during which the transfer must occur. It is acceptable for the transfer of title to the charity to be conditioned upon the actual holding or outcome of the raffle. In order for the charitable organization to be able to conduct a raffle of real property, the charity must own at least equitable title to the real property to be raffled. Please refer to the "Raffles of Personal Property" for the appropriate county agency. In addition to submitting the disclosure statement, the charity must obtain a permit, if applicable, from the county in which the raffle will be conducted and the county or counties in which tickets will be sold.
The disclosure statement includes information such as the name and address of the charity, the address and description of the property to be raffled, the date, time, and location of the raffle, the amount of consideration, and the encumbrances and costs attributable to the winner of the raffle.
Under Code of Maryland Regulations 01.02.07.03, a charitable organization must submit to the Charitable Organizations Division a disclosure statement prior to advertising or conducting a raffle of real property. A charity can not conduct more than two (2) raffles in a calendar year.
Under Criminal Law Article, §12-106 of the Annotated Code of Maryland, a charitable organization may conduct a raffle of real property if it is for the exclusive benefit of the organization and the prize awarded is real property to which the charity holds title or to which the charity has the ability to transfer title.